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Unlevered free cash flow (i.e., cash flows before interest payments) is defined as EBITDA − CAPEX − changes in net working capital − taxes. This is the generally accepted definition. If there are mandatory repayments of debt, then some analysts utilize levered free cash flow, which is the same formula above, but less interest and ...
In corporate finance, free cash flow to equity ( FCFE) is a metric of how much cash can be distributed to the equity shareholders of the company as dividends or stock buybacks —after all expenses, reinvestments, and debt repayments are taken care of. It is also referred to as the levered free cash flow or the flow to equity (FTE).
The Modigliani–Miller theorem (of Franco Modigliani, Merton Miller) is an influential element of economic theory; it forms the basis for modern thinking on capital structure. [1] The basic theorem states that in the absence of taxes, bankruptcy costs, agency costs, and asymmetric information, and in an efficient market, the enterprise value ...
Regardless, the company’s gross bookings expansion and resulting revenue lift provided operating leverage. Uber’s adjusted EBITDA rose from -$509 million in Q2 2021 to $364 million in Q2 2022 ...
Lime said it was operating both cash flow positive and free cash flow positive, with expectations to be full-year profitable in 2021. ... Adjusted EBITDA is a non-GAAP accounting measure that many ...
Unlevered free cash flow for the quarter was $120 million. ... Our net leverage ratio is 1.8 times trailing 12 months adjusted EBITDA and 1.8 times trailing 12 months cash EBITDA, which is defined ...
v. t. e. In corporate finance, net operating profit after tax ( NOPAT) is a company's after- tax operating profit for all investors, including shareholders and debt holders. [ 1] NOPAT is used by analysts and investors as a precise and accurate measurement of profitability to compare a company's financial results across its history and against ...
The adjusted EBITDA will be used by a buyer/investor as the basis for valuation (for companies valued based on an EBITDA multiple). The adjusted revenue will be used to recalculate the effective ...